LEXINGTON, Mass. – November 9th, 2021 - Mimecast Limited (NASDAQ: MIME), a leading email security and cyber resilience company, today announced the publication of its new report, “State of Ransomware Readiness: Facing the Reality Gap.” Over the past year there has been a dramatic rise in ransomware attacks, and while all organizations are a target, large enterprises are bearing the brunt - experiencing an average of 10,000 attacks over the past two years. This new research report is based on a global survey of 742 cybersecurity professionals.
Cybersecurity leaders are facing challenges related to technology, people and processes. The shift to remote work brought on by the COVID-19 pandemic has resulted in numerous new devices to protect, leaving organizations more vulnerable to ransomware through unsecure networks. “State of Ransomware Readiness” found:
Preparedness vs. Confidence
Mimecast research has shown that ransomware attacks are widespread and prevalent: 80% of organizations have been targeted and experienced an average of 3,000 attacks over the past two years, or four per day. Yet, “The State of Ransomware Readiness” found that 77% of executives are confident in their company’s preparedness for ransomware attacks. The contradiction may be a result of:
“Ransomware attacks have never been more common, and threat actors are improving each day in terms of their sophistication and ease of deployment,” said Jonathan Miles, head of strategic intelligence & security research. “Preparation is key in combating these attacks. It’s great to see cybersecurity leaders feel prepared, but they must continue to be proactive and work to improve processes. This report clearly shows ransomware attacks pay, which gives cybercriminals no incentive to slow down.”
Ransoms Vary Widely Across the Globe
Responding executives were evenly split when it comes to paying the ransom, 41% did not pay, while 39% did. Thirteen percent of organizations negotiated their payments down. “The State of Ransomware Readiness” found the average ransom to be:
Ransomware Consequences Reach C-Suite Executives
Successful ransomware attacks can have devastating consequences for organizations. In fact, companies that fell victim to a ransomware attack noted that they saw disruption to their operations (42%), faced significant downtime (36%), lost revenue (28%) and lost current customers (21%). “The State of Ransomware Readiness” found that these attacks are now also causing reverberations on an individual level:
To download Mimecast’s full “State of Ransomware Readiness: Facing the Reality Gap” report, click here.
Mimecast: Relentless protection. Resilient world.™
Mimecast (NASDAQ: MIME) was born in 2003 with a focus on delivering relentless protection. Each day, we take on cyber disruption for our tens of thousands of customers around the globe; always putting them first, and never giving up on tackling their biggest security challenges together. We are the company that built an intentional and scalable design ideology that solves the number one cyberattack vector – email. We continuously invest to thoughtfully integrate brand protection, security awareness training, web security, compliance and other essential capabilities. Mimecast is here to help protect large and small organizations from malicious activity, human error and technology failure; and to lead the movement toward building a more resilient world. Learn more about us at www.mimecast.com.
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